President Sheinbaum To Build 1 Million Social Housing Units in Mexico

Mexican President Claudia Sheinbaum, Oct. 15, 2024. X/ @LibrexpresionP

October 15, 2024 Hour: 10:01 am

Her administration will focus on providing housing for those who need it most.

On Tuesday, Mexican President Claudia Sheinbaum presented the Housing and Regularization Program through which her administration will build one million homes to benefit vulnerable populations such as female heads of households, young people, Indigenous communities, and the elderly.

“We are focusing on land and housing units close to workplaces, where there are services and access to public transportation. The goal is to provide housing for those who need it most,” she said.

“Our objective is to fulfill the right to housing. We’re not looking to build homes just for the sake of building them. That is the big difference between neoliberalism and the Fourth Transformation,” Sheinbaum stated, referring to the shift from promoting real estate markets to fulfilling social rights.

For the 2024-2030 period, the Mexican state plans to invest approximately US$31 billion to ensure the right to housing. By the end of 2025, authorities expect to build 165,000 new homes, improve 100,000 homes, and regularize 120,000 property titles in the eastern zone of the State of Mexico.

Sheinbaum said that at least 100,000 new homes will be rented to young people between the ages of 18 and 30. These rentals will be valid for up to five years, with the possibility of extending for two more years. To ensure the right to housing, the cost of rent will not exceed 30 percent of the young people’s monthly income.

The Mexican president also mentioned that her administration will carry out 450,000 home improvements and expansions, prioritizing those located in marginalized areas.